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Bed Bath &Beyond (BBBY) Crosses Pivot Point Support at $7.91

By Nick Russo

Shares of Bed Bath &Beyond (NASDAQ:BBBY) opened today below their pivot of $8.37 and have already reached the first level of support at $7.91. Should the shares continue to fall, the support pivots of $7.66 and $6.95 will be of interest.

Bed Bath &Beyond has overhead space with shares priced $7.87, or 55.7% below the average consensus analyst price target of $17.77. The stock should find initial resistance at its 50-day moving average (MA) of $10.73 and further resistance at its 200-day MA of $13.69.

In the past 52 weeks, Bed Bath &Beyond share prices have been bracketed by a current low of $7.87 and a high of $19.59 and are now at $7.87. The 200-day and 50-day moving averages have moved 0.54% lower and 2.47% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Bed Bath &Beyond on May 13th, 2019 by issuing a Downtrend alert when the shares were trading at $15.42. Since that call, shares of Bed Bath &Beyond have fallen 47.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts bed bath &beyond

Ticker(s): BBBY